Filing of Income Tax Returns (ITR) in July 2014
In India, the system of direct taxation has been in force in various forms since ancient times. There are references both in Manu Smriti and Arthasastra to a variety of tax measures. In modern India income tax was introduced by Sir James Wilson on 24 July 1860. It was a tax selectively imposed on the rich, royalty and Britishers, and hence was not liked by the powerful. The Act lapsed in 1865 and was re-introduced in a different form in 1867.
Important Dates
